Koryx Copper Unearths Significant High-Grade Copper Zone in Namibia

Koryx Copper Inc. has announced a significant finding at its Haib Copper Project in southern Namibia. The company reported that drill hole HM90 intersected a continuous high-grade copper zone measuring 110 meters at an average of 0.70% copper, with a notable section of 36 meters yielding 1.42% copper. This result establishes the widest continuous high-grade zone encountered at Haib to date and highlights the project’s potential for further development.

The drill hole HM90 is part of Koryx’s Phase 3 drill program, designed to explore the mineralization within the Exclusive Prospecting License 3140 (EPL 3140). The results from HM90 were obtained from a depth of 0 to 110 meters, within a broader interval of 417 meters at an average grade of 0.33% copper. This discovery is situated 60 meters from a previously reported drill hole, HM06, which had a high-grade intersection of 90 meters at 0.60% copper.

Renewal of Exclusive Prospecting License

Koryx Copper also received approval from Namibia’s Ministry of Mines for the renewal of EPL 3140, a critical step in securing the mineral rights for the Haib project. The renewal extends the license for another two years, confirming Koryx’s compliance with the necessary expenditure commitments from the prior license period. This renewal is seen as a testament to the company’s effective management and operational execution in Namibia.

Heye Daun, President and CEO of Koryx Copper, expressed satisfaction with both the drill results and the EPL renewal. He noted, “The significant high-grade drill result at HM90 proves the Haib deposit’s potential and the continuity of mineralization along the targeted east-west structures.” He emphasized the potential for developing a near-surface, high-grade starter pit in this area.

The Haib project is advancing toward mining license application status, with Koryx having submitted the necessary documents to the Ministry of Mines. This application includes a technical study and a detailed plan for the project’s development. As part of this process, Koryx is also working towards obtaining the required Environmental Clearance Certificates, which are essential for progressing to the next phases of development.

Project Overview and Future Prospects

The Haib Copper Project is a large, advanced-stage copper/molybdenum/gold deposit that has undergone extensive exploration and development since the 1970s. Over 80,000 meters of drilling has been completed at the site, with significant contributions from renowned companies such as Falconbridge and Rio Tinto. The current mineral resource estimate stands at 414 million tonnes at 0.35% copper in the indicated category, and 345 million tonnes at 0.33% copper in the inferred category.

Koryx is committed to demonstrating Haib’s viability as a long-term, low-cost open-pit mining operation. Ongoing studies aim to enhance the understanding of the mineralization and further solidify the project’s economic potential.

As Koryx Copper continues to advance its exploration and development efforts at Haib, the recent drill results and license approvals mark a pivotal moment in the company’s journey. The ability to establish a solid foundation for future operations positions Koryx favorably in the competitive copper market.

For further updates and detailed information, Koryx Copper encourages stakeholders to visit their website or consult the latest technical reports available through their profiles on relevant financial platforms.